Kingwood Parc will consist of two 40,000-sf, two-story office buildings and one six-story, 120,000-sf structure. He has tapped Transwestern Commercial Services Inc. to develop the first phase of the project--a 40,000-sf building with an $8-million build-out cost. Transwestern's Todd King will oversee the development of the building, designed by Gensler Architecture, Design and Planning Worldwide. Transwestern also will lease and manage the property.

According to Debbie MacDonald, vice president with Transwestern, construction will begin when preleasing hits 50%. "I expect that we will break ground in March or April because we have about three deals totaling 15,000 sf that we are about to close," she tells GlobeSt.com. The space is on the market for $23.50 per sf.

Cras has been working on the plans for Kingwood Parc for several years, but only recently acquired the final 15 acres from a local church so he can move forward on the project, MacDonald says. As part of the project, Cras is in the process of selling about six acres to Los Cucos, a local Mexican restaurant chain planning to build an 8,000-sf restaurant.